ebit Credit 5,000 Cash A/R Equipment (net) 6,000 66,000 31,000 3,000 3,000 27,00

Question

ebit Credit 5,000 Cash A/R Equipment (net) 6,000 66,000 31,000 3,000 3,000 27,000 Dividends Payable Common Stock ($3 par, 1,000 shares issued APIC Treasury Stock (200 shares) Retained Earnings Revenues Expenses Dividends Declared 8,000 4,000 8,000 78,000 3,000 176.000176,000 Total The only treasury stock transaction was the purchase of 200 shares on Novem New Company Statement of Retained Earnings For the Year Ended December 31, Year 2 ine 1 ne 2 ine 3 ne 4 20,000 31,000 Calculate the cash issuance price per share for the common stock [make the jo O $27 O $30 O $3

Explanation / Answer

1) Issue price of common Stock = (3000+27000)/1000 = $30 per share

so answer is b) $30

2) Example of discontinue operations includes all of the following except

So answer is b) A disposal of a major piece of equipment

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